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By Lee Kah Whye <keyword id="6356662" type="General" weightage="100" keywordseo="singapore" source="Orion">Singapore</keyword>, June 19 (ANI): Last week, Singapore reported some weak economic numbers raising fears of a recession. Annual exports fell for the eighth consecutive month while total employment expanded at a slower rate, retrenchments rose, and job vacancies shrank for the fourth straight quarter. Based on data from Enterprise Singapore, a statutory board under Singapore's Ministry of Trade and Industry, non-oil domestic exports (NODX) declined 14.7 per cent in May. This is following a fall of 9.8 percent in April led by decreases in both electronics and non-electronics exports. The decrease is attributed mainly to weakness in the Hong Kong, Malaysia and Taiwan markets although exports to China and the United States ticked up. NODX to Singapore's top 10 markets declined as a whole last month. The 14.7 per cent slump is far worse than the median 7.7 per cent decline that economists have predicted in a Bloomberg poll. With Singapore's economy contracting 0.4 per cent on a quarter-on-quarter basis in the first quarter of this year, and global consumption slowing amid rapid rises in interest rates, the weak numbers heightened the risk of a technical recession in Singapore's export-oriented economy. A technical recession is defined as two consecutive quarters of contractions. Maybank economist Chua Hak Bin said to Reuters that the export downturn is deepening and shows "few signs of turning around", with the May data increasing the likelihood that Singapore may have slipped into a technical recession. Separately, during the same week, Singapore's Ministry of Manpower (MOM) released its first quarter labour market report for 2023 which suggested a cooling job market as job vacancies dropped to 99,600 from 126,000 in the same period a year ago. Lay-offs also took place at a faster pace with 3,820 employees losing their jobs in the first quarter versus 2,990 in Q4-2022. However, the total number of employed persons in Singapore grew for the sixth consecutive quarter by 33,000 in the January-to-March period, mainly driven by non-resident workers including Indians. A total of 30,200 of those employed came from overseas mainly to work in the construction and manufacturing sectors. This figure excludes migrant domestic workers who work in households. With the additional hiring of overseas workers in Q1, a significant milestone was crossed as the number of non-resident employment crossed pre-pandemic levels for the first time. It is now 1.7 per cent higher than in 2019. Total employment in Singapore has surpassed pre-pandemic levels by 3.8 per cent. The other 2,800 newly employed are Singapore citizens and permanent residents who were hired by companies in financial services, professional services, and health and social services. Singapore has a significant Indian diaspora living and working here. As of June 2021, based on the Singapore Department of Statistics, Singapore has a population of 5.45 million. 4 million are citizens and permanent residents and out of which 7.5 per cent or 300,000 are ethnic Indians. 1.45 million of Singapore's population are considered non-residents, meaning they are either on various work passes or are students. Based on data published by the Ministry of External Affairs Consular Services, Indian nationals make up about 350,000 or 24 per cent of these non-residents in Singapore. The proportion of Indian professionals in Singapore has doubled from 13 to 25 per cent between 2005 and 2020, according to Singapore's Minister of <keyword id="15652726" type="General" weightage="50" keywordseo="manpower-tan-see-leng" source="Orion">Manpower Tan See Leng</keyword> in July 2021. Indian talent is internationally portable and tends to look outward for opportunities. It is currently the largest country of origin for international migrants. In 2020, it accounted for 18 million international migrants, up by 2 million from 2015, based on United Nations Department of Economic and Social Affairs data. The country has become the second largest source of immigrants in the US and the third largest in the UK, both of which are heavily invested in building tech capabilities. Any contraction in the job market in Singapore will impact the trend of Indians arriving on its shores seeking job opportunities. <keyword id="17743094" type="General" weightage="50" keywordseo="singapore-ministry-of-manpower" source="Orion">Singapore Ministry of Manpower</keyword> said in April that "global economic headwinds have contributed towards a slowdown in Singapore's economy, which will weigh on labour demand going forward, particularly for outward-oriented sectors. Employment growth is likely to ease and be uneven across sectors." OCBC Bank chief economist Selena Ling said to Singapore's <keyword id="90569" type="General" weightage="50" keywordseo="straits-times" source="Orion">Straits Times</keyword> that "the softening labour market outlook is unsurprising given the deterioration in the external environment, including the United States' regional banking problems, China's stumbling recovery and the ongoing global semiconductor slump." She added, "Recent business sentiments have also softened, as reflected in the manufacturing and electronics Purchasing Managers' Index (PMI) as well as our OCBC SME index. Hiring intentions and employment growth have begun to soften and may moderate in coming months since growth momentum is likely to slow in the second half of 2023." "Interestingly, the rising vacancy and retrenchments for some industries like information and communication technologies and financial services suggest some ongoing churn and/or pockets of opportunities within the sector." (ANI)

How Singapore's job slowdown may impact non-resident Indians in city-state

<ul><li><keyword id="1673591" type="General" weightage="20" keywordseo="indian-residents" source="Orion">Indian residents</keyword> are required to report their foreign investments, which may include holdings in foreign <keyword id="6354298" type="General" weightage="20" keywordseo="stocks" source="Orion">stocks</keyword>, bonds, or other financial instruments. </li><li>Ownership of foreign real estate, whether residential or commercial, must be reported to Indian tax authorities. </li><li>If you possess ESOPs from a foreign company, you are required to disclose these foreign holdings when filing your <keyword id="6354751" type="General" weightage="20" keywordseo="income-tax" source="Orion">income tax</keyword> return. </li></ul>Recently, the IT Appellate Tribunal of Mumbai imposed a penalty of ₹10 lakh per year on <keyword id="59866" type="General" weightage="20" keywordseo="taxpayers" source="Orion">taxpayers</keyword> who failed to report <keyword id="466213" type="General" weightage="20" keywordseo="foreign-assets" source="Orion">foreign assets</keyword> under schedule FA of the income tax return (ITR) form. The penalty was levied under black money Act. Compared to the Income Tax Act, the penalty under the black money act is enormous. "The ITAT decision is a wake-up call for many working professionals and NRIs regarding the complexity of tax compliance in India; even if the taxpayer has paid their taxes, mere non-disclosure results in hefty penalties,” says Suneel Dasari, CEO and founder, EZtax.in. Here's a breakdown of the key foreign assets and income that must be disclosed in the income tax returns. <cmsannotation type="cmsannotation" annotationid="Foreign investments" comment="Subhead" text="Foreign investments">Foreign investments</cmsannotation>: Indian residents are required to report their foreign investments, which may include holdings in foreign stocks, bonds, mutual funds, or other financial instruments. This reporting extends to income generated from these investments, such as dividends, interest, or capital gains. Individuals need to disclose the nature and value of these investments in their tax returns. For example, if you have invested in shares of Microsoft or Apple, the investments and any income from them, need to be disclosed when filing your tax returns. <cmsannotation type="cmsannotation" annotationid="ESOPs" comment="subhead" text="ESOPs">ESOPs</cmsannotation>: If you possess employee stock ownership plans (ESOPs) from a foreign company, you are required to disclose these foreign holdings when filing your income tax return, typically under schedule FA. “In India, when an Indian employee is allotted shares of a foreign parent company as a part of their compensation or as an employee stock option plan (ESOP), it is considered an investment in foreign assets,” says Abhishek Soni, CEO, Tax2Win.in, a tax filing platform. Foreign bank accounts: Any foreign bank accounts, whether savings, current, or fixed deposit accounts, must be reported. This includes accounts held individually or jointly, along with details such as the name of the bank, account numbers, and the highest balance maintained during the financial year. <cmsannotation type="cmsannotation" annotationid="Foreign real estate" comment="Subhead" text="Foreign real estate">Foreign real estate</cmsannotation>: Ownership of foreign real estate, whether residential or commercial, must be reported to Indian tax authorities. This includes details about the property's location, current market value, and any income generated from it, such as rental income. “Any rental income or capital gains from selling these assets may be subject to taxation,” says Soni. <cmsannotation type="cmsannotation" annotationid="Financial or beneficial interest in overseas entities" comment="Subhead" text="Financial or beneficial interest in overseas entities">Financial or beneficial interest in overseas entities</cmsannotation>: In case an individual possesses a financial or beneficial stake in any overseas entity, such as serving as a partner in an overseas limited liability partnership (LLP) or firm, or receiving benefits from a foreign private trust, it is imperative to disclose this interest in accordance with tax regulations. “Residents in India with foreign income from ESOPs, or the voluntary purchase of foreign stock or other non-tangible instruments are at risk due to country or central bank level reciprocity agreements that would allow the Indian government access to information that would otherwise be unavailable,” says Dasari. Non-declaration also revokes your right to claim relief under the double taxation avoidance agreement for your foreign income. Hence it is critical to disclose such foreign assets in the schedule FA of ITR.

Have foreign assets or income? Not disclosing it may lead to heavy penalties

<ul><li>NRIs can now pay utility bills on behalf of their families in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>. </li><li><keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> has enabled NRIs to make bill payments using the Bharat Bill Payment System which has 20,000 billers on it. </li><li>Charges and convenience fees to be uniform across the platform and better complaint redressal mechanism.</li></ul> Sitting in the comfort of their homes, <keyword id="324391" type="General" weightage="20" keywordseo="non-resident-indians" source="Orion">non-resident Indians</keyword> will soon be able to pay utility bills on behalf of their parents in India. The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>’s Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> on Friday announced that the central bank would enable the Bharat Bill Payment System (<keyword id="6443838" type="General" weightage="80" keywordseo="bbps" source="Orion">BBPS</keyword>) to process inbound cross-border payments. Governor Das said that the Bharat Bill Payment System (BBPS) was an interoperable platform for standardized bill payments. He said, “It is now proposed to enable BBPS to accept cross-border inward bill payments. This will enable Non-Resident Indians (NRIs) to undertake bill payments for utility, education and other such payments on behalf of their families in India. This will greatly benefit the senior citizens in particular.” The bill payment system has made bill payments relatively easy for users in India. Currently, 20,000 billers are part of the system, and more than 80 million transactions are processed on a monthly basis. This will help senior citizens in India with children working abroad. The scope of offering has now been expanded to non-resident Indians too, who can now pay for children’s school fees and utility bills using this platform. The BBPS offers a reliable payment mechanism with predictable and uniform convenience fees across billers. Explains <keyword id="14143061" type="General" weightage="50" keywordseo="muralidharan-srinivasan" source="Orion">Muralidharan Srinivasan</keyword>, head of payments, APMEA Region, FIS, “NRIs will now be able to enjoy various offerings of BBPS such as a reliable bill payment experience, centralized customer grievances redress mechanism, and uniform customer convenience fee, while paying utility bills, education-related payments and other cross-border transactions.” The RBI has taken several measures to improve cross-border transactions, especially inbound. The central bank has been testing different models of cross-border payments through the regulatory sandbox route. In September 2021, the RBI received 27 applications from 26 entities, of which eight entities have been selected for the ‘test phase’. The entities began testing their products from the third week of September 2021 to offer a variety of cross-border payment solutions for Indians and NRIs. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/ransomware-a-growing-business-threat-for-organisations-in-the-new-normal/articleshow/93368022.cms">Ransomware: A growing business threat for organisations in the new normal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/research/news/5-reasons-why-the-4-day-week-wont-work-according-to-an-economic-professor/articleshow/93363736.cms">5 reasons why the 4-day week won't work, according to an economic professor</a>

Now, NRIs can pay parents' utility bills and children's school fees in India

India's economy is expected to grow at 7-7.2 per cent in the current fiscal year driven by robust economic fundamentals and continuity in domestic policy reforms, <keyword id="20006170" type="General" weightage="100" keywordseo="Deloitte-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Deloitte India" meta.hostid="261" meta.entityid="Deloitte India">Deloitte India</keyword> said on Monday. The August update of <keyword id="19896400" type="General" weightage="20" keywordseo="deloitte" source="keywords">Deloitte</keyword>'s India Economic Outlook said several initiatives in the <keyword id="19908389" type="General" weightage="20" keywordseo="union-budget" source="keywords">Union Budget</keyword> 2024-25 toward improving agriculture productivity, creating jobs for the youth, and in manufacturing and addressing the challenge of access to finance for micro, small, and medium enterprises (MSMEs), would help improve supply-side demand, curb inflation, and prop up <keyword id="20139791" type="General" weightage="20" keywordseo="consumer-spending" source="keywords">consumer spending</keyword>, especially in rural areas. Deloitte India Economist Rumki Majumdar said, India will witness robust growth in the second half after a period of uncertainty in the first six months of the year. "Key contributing factors include the continuity in domestic policy reforms, reduced uncertainties in the US post-elections, and more synchronous global growth within a low inflation regime. "Additionally, improved global liquidity conditions, as central banks in the West ease their monetary policy stance, will enhance capital flows and drive higher investments, particularly in the private sector," Majumdar said. Observing that strong economic fundamentals would drive <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> between 7 per cent and 7.2 per cent in FY25, the Economic Outlook report said effectively addressing the urban-rural consumer spending gaps, inflation, and employment concerns can significantly enhance the affordability of aspirational rural consumers. "The much-desirable policy pivot was evident in the Union Budget presented last month. Reducing the urban and rural spending gap in the coming years will ensure sustained consumer demand from a larger consumer base," it added. Deloitte India's growth projection is at par with that of RBI, which projected FY'25 growth at 7.2 per cent. It is higher than Finance Ministry's Economic Survey which estimated GDP expansion between 6.5-7 per cent. The <keyword id="19948184" type="General" weightage="20" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> grew at 8.2 per cent in 2023-24 fiscal year. The report further said despite strong growth, private consumption spending has remained modest over the past five years. The pandemic, high global and domestic inflation, consequent tightening of financial conditions, and the effects of poor agriculture output on rural demand seem to have capped private consumption growth in India. But a Deloitte research showed that India is witnessing distinct and broad-based shifts in consumption patterns. There is a broad-based shift in the composition of consumption towards more non-food and discretionary items, reflecting changing lifestyles and preferences that are here to stay. According to the Household Consumption Expenditure Survey, spending on discretionary goods and services (including conveyance) has gone up both in rural and urban India, with the former quickly catching up in spending on discretionary durable goods (including automobiles, electric and electronic goods) with the latter in just one decade. "Demand for processed food has been among the highest in most states, suggesting a shift towards ready-to-eat options. Rapid urbanization, increasing women's participation in the workforce, and enhanced marketing and availability are driving these changing dietary habits," the report said. According to Deloitte research, if increasing income in states results in a relatively equitable distribution and higher rural spending, businesses can tap into a larger proportion of the state's population that resides in rural areas. This gives businesses access to a large consumer base and a sustainable consumer spending demand, as compared to states with a widening gap.

Indian economy likely to grow at 7-7.2 percent in FY25,Deloitte India says

With Indians rushing to file their ITRs ahead of the July 31st deadline that's coming up tomorrow, did you know that residents of just one Indian state are exempt from filing <keyword id="19901478" type="General" weightage="20" keywordseo="income-tax" source="keywords">income tax</keyword> returns, or paying taxes at all? Yes, <keyword id="19903425" type="General" weightage="20" keywordseo="Sikkim" source="keywords">Sikkim</keyword> is the only state in the country where the residents do not have to pay income tax. But why is that the case? Let's delve into it. An erstwhile princely kingdom for almost 333 years prior to its amalgamation, Sikkim merged into independent India in 1975, thereby becoming the country's 22nd state. But this happened on one condition- that it will be allowed to continue with its old <keyword id="21152786" type="General" weightage="20" keywordseo="tax-laws" source="keywords">tax laws</keyword> post the merger. Sikkim has its own income tax manual, which stipulated that no resident of Sikkim was to pay taxes to the center. Hence, honoring the merger agreement, the Indian government granted a special tax exemption to Sikkimese residents from Indian income tax regulations. This changed in 2008, when the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union budget</keyword> repealed the state's tax laws. However, to maintain the exemption status enjoyed by the state's residents, it inserted section 10 (26AAA). Under this section, any income generated by a Sikkimese, be it from a source within the state, or by way of dividend or interest on securities, would be tax-exempt. At present, any individual who has been domiciled (noted as having fixed, principal and permanent residence) in Sikkim as of April 26, 1975 would be considered a Sikkimese, and hence, exempt from paying income tax. As per data from PRS Legislative Research, the state's estimated own tax revenue for 2023-24 stood at Rs 1,727 crore. However, if a Sikkimese has rental income from properties situated outside of the state, or has an income from source that is not located in Sikkim, it will be subject to relevant taxes. Nevertheless, the provisions of tax exemptions would not apply to any Sikkimese woman, who marries a non-Sikkimese or an outsider, on or after April 1, 2008. Market regulator SEBI has also exempted residents of Sikkim from mandatorily having a PAN card for investing in Indian stock markets, equities, cash market and even mutual funds. <h2>Decoding Section 10 (26) of the IT Act</h2>All these income-tax exemptions also extend to a few other regions in the country, but only if you are a member of the scheduled tribes. Section 10(26) of the Income Tax Act applies to Ladakh, Arunachal Pradesh, Manipur, Mizoram, Nagaland and <keyword id="19919396" type="General" weightage="20" keywordseo="tripura" source="keywords">Tripura</keyword>, along with the North Cashar hills district, Karbi Anglang district, Chakma district, Mara district, and Lai District. Simply put, it stipulates that if you belong to the scheduled tribes and generate any income, the source of which lies in the above mentioned regions, or by way of dividend or interest on securities, your income would be tax-exempt. But any income generated outside of these regions would be taxable.

Did you know about the only Indian state exempt from paying any income tax? Know all about it here

US presidential candidate <keyword id="19918985" type="General" weightage="20" keywordseo="Donald-Trump" source="keywords">Donald Trump</keyword> has gone from suggesting that immigrants were poisoning the blood of the country to saying that he would welcome immigrants from “nice” countries like Denmark, Switzerland and Norway to his most recent plans of automatically granting green cards to <keyword id="22128571" type="General" weightage="20" keywordseo="foreign-graduates" source="keywords">foreign graduates</keyword> of US colleges in a rather short duration of time. Feeling a little whiplashed, anyone? Securing a green card in the US is a Herculean task whose difficulty is probably comparable to capturing and bringing back Cerberus. And this legal permanent residence, which can sometimes take decades, is only the first step to becoming a US citizen. Many Indians have tried, whether it’s through residing and working for decades, navigating rather lengthy paperwork or marrying someone who is already a US citizen. Sadly, many have failed too. However, should Donald Trump become the President of the United States again (and decide to keep his word), Indian students might actually have an easier time getting a green card. In a surprising shift from his previous stance on immigration, former President Donald Trump has unveiled a bold plan to automatically grant green cards to foreign graduates of US colleges if re-elected. This announcement, made during a podcast interview with Silicon Valley investors, marks a departure from Trump's traditionally tough rhetoric on immigration. During the podcast hosted by Chamath Palihapitiya and others, Trump expressed his commitment to retaining talent educated in American universities. He argued passionately for granting green cards as a standard benefit for graduates, regardless of the institution they attended. Trump emphasised that this policy should encompass graduates from renowned institutions like Harvard and MIT as well as from junior colleges across the country. “It’s so sad when we lose people from Harvard, MIT, the greatest schools, and lesser schools that are phenomenal schools also,” Trump lamented on the All-In Podcast. “I think you should get, automatically, as part of your diploma, a green card to be able to stay in this country and that includes junior colleges, too.” A green card affords its holder permanent residency rights in the United States and represents a crucial step towards citizenship. Trump's proposal, if enacted, could potentially introduce hundreds of thousands of new applicants for citizenship annually. Adding to the exodus of Indians who have already migrated to the US, over 200,000 Indian nationals are enrolled in institutes across the US in 2024, setting a new record. In fact, the significant surge in Indian students seeking education in the country between 2022-23 represented an unprecedented 35% increase from the year before that. The former US president specifically mentioned India and China, highlighting how talented individuals were unable to stay in the US because of current <keyword id="22151110" type="General" weightage="20" keywordseo="visa-policies" source="keywords">visa policies</keyword>. We can see how this may show him in a favourable light for green card aspirants. And while we’re not one to look a gift horse in the mouth, it is important to remember that Trump has made his discriminatory nature very public in several instances. Immigration has been a hot topic in the US political arena for decades. However, in recent years, the political right and others have been more divided than ever on this issue. Republicans have been calling for stringent immigration policies and strict border protections. Therefore, even if Trump does deliver what he promises, the packaging will most likely have fine print that might continue to make it difficult for students to attain green cards. In fact, the presidential candidate’s campaign press secretary, Karoline Leavitt, has already clarified that Trump's proposal would only apply to thoroughly vetted college graduates who can “make significant contributions” to America and would not undercut American wages or workers. She emphasised that Trump has outlined the most aggressive vetting process in US history to exclude "all communists, radical Islamists, Hamas supporters, America haters and public charges." Anyhow, Trump’s proposal starkly contrasts with Trump's previous hardline stance on immigration, which had been a cornerstone of his political platform. During his presidency, Trump advocated for stringent immigration policies, including the largest deportation campaign in US history, aimed at undocumented migrants, and building a wall on the southern borders of the country. Trump intensified restrictions on legal immigration amid the pandemic and his final year in office. He proposed halting all immigration to the US and deporting foreign students who didn't attend some in-person classes. A month before the 2020 election, Trump once more moved to tighten regulations on the <keyword id="20773661" type="General" weightage="20" keywordseo="H-1B-visa" source="keywords">H-1B visa</keyword> program. He has also criticised the H-1B visa program, which tech companies favour for hiring foreign skilled workers, as detrimental to American prosperity. The H-1B visa is a non-immigrant visa allowing US firms to employ foreigners in specialised occupations requiring theoretical or technical expertise. At a recent campaign event in Wisconsin, Trump criticised Biden's immigration policies, particularly lambasting a new program allowing undocumented spouses of US citizens to apply for permanent residence without leaving the country. Trump characterised immigration under Biden as an "invasion" and argued against discussing amnesty, urging instead for measures to halt what he perceives as an influx of unauthorised migrants. Estimates from the Department of Homeland Security suggest that approximately 11 million migrants currently reside in the US without authorization, a statistic that has been central to Trump's arguments against leniency in immigration policy.

Donald Trump strikes again: Ex-President proposes automatic green cards for foreign graduates of US colleges

Washington, The Citizenship Amendment Act (CAA), which was notified in India on Monday, was long overdue and mirrors the Lautenberg Amendment for religious refugees in the United States, Hindu American groups said. Under CAA, which was passed by the Parliament in December 2019, the central government can grant citizenship to non-Muslim migrants - from Bangladesh, Pakistan and Afghanistan - who came to India due to religious persecution before December 31, 2014. "India's Citizenship Amendment Act is long overdue and necessary. It protects some of the most vulnerable refugees in India, granting them the human rights they were denied in their home country, and the clear and expedited path to citizenship needed for them to begin rebuilding their lives," said Hindu American Foundation (HAF) executive director <keyword id="20923718" type="General" weightage="20" keywordseo="suhag-shukla" source="keywords">Suhag Shukla</keyword>. HAF in a statement said that CAA does not alter the rights of any Indian citizen nor does it establish any religious test for general immigration or exclude Muslims from immigrating to India, as is sometimes wrongly said and reported. "CAA mirrors the long-established Lautenberg Amendment in the US, in place since 1990, which has provided a clear immigration path for persons fleeing a select group of nations where religious persecution is rampant," she said. "I'm proud to see both the oldest and largest secular democracies in the world - the US and India - be a beacon of hope by extending a pathway to freedom and a new life to those who have suffered gross human rights violations simply because of their religion," Shukla said. This is a big win for human rights for the persecuted religious minorities of Pakistan, Bangladesh and Afghanistan, said <keyword id="20923719" type="General" weightage="20" keywordseo="pushpita-prasad" source="keywords">Pushpita Prasad</keyword> of Coalition of Hindus of North America. "A reminder - CAA has NO impact on existing Indian citizens of any faith. It simply fast-tracks the Indian citizenship process for approximately 31,000 religious minorities who fled Pakistan, Bangladesh, and Afghanistan in the face of extreme and systemic persecution," Prasad said. "For instance, each year in Pakistan alone 1000+ minor girls from minority communities are kidnapped, forcibly converted and 'married' to their abductors, with support from police and judicial authorities. As a result, petrified families with young kids have been fleeing to India for basic safety," Prasad said. "CoHNA had run an education and advocacy campaign on CAA in 2020 to counter the fake propaganda being pushed on the topic, with eight cities passing resolutions against. To prevent the spread of misinformation AGAIN, we urge residents of US and Canada to educate themselves and others around them," she said. Popular African-American singer <keyword id="20258529" type="General" weightage="20" keywordseo="mary-millben" source="keywords">Mary Millben</keyword> described it as a pathway towards peace. "This is a true act of democracy," she said in a post on X. "As a Christian, woman of faith, and global advocate for religious freedom, I applaud the Modi-led government announcing today the implementation of the Citizenship (Amendment) Act now granting Indian nationality to persecuted non-Muslim migrants, Christians, Hindus, Sikhs, Jains, Buddhists, and Parsis from Pakistan, Bangladesh and Afghanistan," Millben wrote. The popular singer thanked Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword>, Union Home Minister Amit Shah and the Indian government for their "compassionate leadership and most importantly for upholding religious freedom" in welcoming those persecuted. On the other hand, Indian American Muslim Council (IAMC) condemned and expressed serious concerns over the announcement by India to implement CAA, which it called "discriminatory". "The law is a flagrant manifestation of discriminatory intent, designed with the explicit purpose of discriminating, dispossessing, and disenfranchising Indian Muslims. Its insidious aim becomes glaringly apparent when considered alongside the proposed nationwide National Register of Citizens," said <keyword id="20923720" type="General" weightage="20" keywordseo="mohammed-jawad" source="keywords">Mohammed Jawad</keyword>, IAMC president.

Citizenship Amendment Act or CAA is long overdue, say Indian American groups

<ul><li>The Indian government has eased visa restrictions for international travellers under its ‘air bubble’ scheme.</li><li>This has allowed all Overseas Citizen of India (OCI) cardholders and other foreigners of countries which have “air bubble” agreements to enter India.</li><li><keyword id="136277" type="ORGANIZATION" weightage="20" keywordseo="Indian-embassies">Indian embassies</keyword> of these countries will grant an appropriate visa, provided papers of the applicants are in order, and there is no adverse input about them.</li></ul>The Indian government has eased visa restrictions for international travellers under its ‘air bubble’ scheme. The government has allowed all Overseas Citizen of India (OCI) cardholders and other foreigners of countries which have “air bubble” agreements to enter India. <keyword id="9083366" type="COMPANY" weightage="20" keywordseo="the-union-ministry-of-home-affairs">The Union Ministry of Home Affairs</keyword> announced that OCI holders from the United States, Germany, the United Kingdom, and France would be allowed to visit the country. However, with this ease of restriction, Indian citizens will also be allowed to travel to these countries on any kind of visa that they hold, according to the guidelines. Indian embassies of these countries will grant an appropriate visa, provided papers of the applicants are in order, and there is no adverse input about them, the home ministry said, according to PTI. <div type="twitter" handle="MoCA_GoI" handlename="MoCA_GoI" image="http://pbs.twimg.com/profile_images/971668841007693824/jJO9tBIm_normal.jpg" favoritecount="134" retweetcount="47" status="Furthermore, foreign nationals belonging to countries with which MoCA has 'air bubble' arrangements can now avail I… https://t.co/9uixm6WEUH" createdat="1596972557000" id="1292422695515086849"></div> Earlier in March, the government suspended all visas granted to foreigners except to those belonging to Diplomatic, Official, UN/International organizations in the wake of coronavirus. What is an OCI card? The Overseas Citizen of India (OCI) is an immigration status permitting a foreign citizen of Indian origin to live and work in India indefinitely. The OCI was introduced in response to demands for dual citizenship by the Indian diaspora, particularly in developed countries. What is an ‘Air bubble’ agreement? According to <keyword id="9254872" type="COMPANY" weightage="20" keywordseo="the-ministry-of-civil-aviation">the Ministry of Civil Aviation</keyword>, “Transport Bubbles” or “Air Travel Arrangements” are temporary arrangements between two countries aimed at restarting commercial passenger services when regular international flights are suspended as a result of the COVID-19 pandemic. They are reciprocal in nature, meaning airlines from both countries enjoy similar benefits. Even after this, International travel continues to remain banned in the third phase of “Unlock 3”. But, the government has released various flight schedules under Vande Bharat Mission to repatriate and facilitate the travel to these countries for Indian nationals. Earlier in June, India also allowed entry to OCI cardholders who are a single parent of minors, students, dependent family members of foreign diplomats and service staff accredited to foreign diplomatic missions. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/share-prices-of-bhel-lt-hal-bharat-forge-bharat-dynamic-and-others-are-rallying-in-the-stock-market-today/articleshow/77455503.cms" data-type="tilCustomLink">HAL’s share price jumps by over 8% as defence stocks rally after India announces import ban</a> <a href="https://www.businessinsider.in/business/corporates/news/titan-company-limited-first-quarter-preview-sales-and-share-price-chart/articleshow/77454665.cms" data-type="tilCustomLink">Time is not on Titan’s side</a>

India allows overseas citizens to return via international flights - Here’s all you need to know

India’s art landscape has the advantages of a rich cultural heritage, along with talented artists. Yet, it needs more art galleries and institutions to support contemporary arts. <keyword id="19901640" type="General" weightage="20" keywordseo="jaipur" source="keywords">Jaipur</keyword> Art Festival which will be held in January 2024 intends to fill the gap. The platform between artists and art is democratizing participation, supporting women in art and much more. <keyword id="20264023" type="General" weightage="20" keywordseo="sana-rezwan" source="keywords">Sana Rezwan</keyword>, executive director at Prestige Group based between New Delhi and Jaipur, talks to Business Insider India about its plans and activities. Here are the excerpts of the interview: What is <keyword id="20264021" type="General" weightage="20" keywordseo="jaipur-art-week" source="keywords">Jaipur Art Week</keyword> and how was it conceived? Jaipur Art Week is one of the initiatives of my not-for-profit, Public Arts Trust of India (PATI), which I established in 2022. I’m originally from Bangalore, but after nearly 20 years abroad, I returned to India and after visiting Jaipur in 2021, fell in love with the city and chose to make it my home. Having lived in London and New York, I was very aware of the absence of art galleries and institutions supporting contemporary art practice within the city. I could see the pull for contemporary artists to go to Delhi and Mumbai to further their careers, but given Jaipur’s incredible cultural heritage, it was clear there was an opportunity to create a platform here that would better support artists to live and work in the city, whilst also showcasing their work to an international audience. I saw this as my opportunity to give back to the city and its creative community and it was then that Jaipur Art Week was born. We’ll host our third annual edition from the 24th-31st January 2024. How does it help bring in talent from across the spectrum to showcase their works? With Jaipur Art Week, my ambition has been to develop a platform for artists and contemporary art. This hasn’t been easy; it's an ongoing process that we review carefully after each edition to develop the next. Rather than having a curator define who participates, we invite artists to apply through an Open Call. To support younger artists to apply, our team hosts proposal writing workshops, supporting them in refining their submissions and to develop their proposals and CV. We received over 75 submissions and collaborate with an international jury - Madeleine Haddon (Curator, V&amp;A East), Pooja Sood (Director, Khoj), Hiba Schahbaz (Artist) - to select over 20 emerging and mid-career artists, many of whom will exhibit professionally for the first time with our support. When reviewing applications, the focus is on an artist’s readiness to exhibit, the quality of their work and their ability to participate professionally. After selection, we support them through the curatorial process to develop their work. Anyone not selected gets personal feedback on their submission to help them improve should they decide to apply in the future. This supportive environment makes Jaipur Art Week a unique incubator within the Indian contemporary art landscape. During Jaipur Art Week, we will unveil a monumental public artwork by Jaipur based artist, Bhimanshu Pandel. The work reimagines what a tree could look like in today’s time. The piece will be commissioned in collaboration with Frozen Music, a local interior design company, which will provide the artist with the facilities and support to make his vision a reality. We wouldn’t be able to support up and coming talent without our partners, and we are also grateful to Rambagh Palace, <keyword id="20264024" type="General" weightage="20" keywordseo="rolls-royce" source="keywords">Rolls Royce</keyword>, <keyword id="20264022" type="General" weightage="20" keywordseo="silvia-furmanovich" source="keywords">Silvia Furmanovich</keyword>, Kilian Paris, Luxaviation and La Fugue. During the course of Jaipur Art Week, we invite undergrads and college students to become a part of our team through our Ambassador Program. Instead of just volunteering, this initiative provides individuals with an opportunity to build professional skills through activities including exhibition building, art handling and production. Ultimately, as we build PATI, they’ll also be our potential future employees. Give us a sense of how PATI’s initiative to show art in public spaces has taken off? For me, public art isn’t just about exhibiting art in public spaces. It's about integrating art into everyday life and providing opportunities for everyone to be creative, learn and explore. All PATI’s initiatives provide free access to the arts for everyone, reinforcing creativity as an important part of everyday life regardless of a person’s association or generation. A key part of this is our work in Arts Education. We are currently partnering with Delhi based organization, Learning through Arts Narrative and Discourse (LAND), to develop a creative arts education program in schools within the walled city of Jodhpur. A new co-learning model, we’ve observed the gaps in arts education at many government schools which often have no art teachers. The current pilot project will work with five schools on a series of modules covering museum, folklore and ecology, tied to the tradition and topography of Jodhpur and the Marwar region of Rajasthan. If successful, we will roll out this model across the state. At PATI, we are always open to partnering with like-minded organizations who share our mission. We are also spearheading a residency initiative that brings contemporary artists to the city of Jodhpur to collaborate with local artisans. PATI’s team has undertaken extensive fieldwork into Jodhpur’s craft and performing arts traditions within the Marwar region which we share with artists before they travel. Our first residency is a partnership with Prameya Art Foundation, Institut Française and RAAS Jodhpur, under the banner of Villa Swagatam, which will welcome French artist Deborah Fischer to Jodhpur in April 2024. We will also be partnering with Kohler (one of our corporate supporters) to bring another three international artists to Jodhpur later the same year. The outcome from each of these residencies and the Art Education initiative will be showcased at Jodhpur Art Week 2024 – our latest PATI project – which will launch in November 2024, 8-17. Ultimately, PATI’s initiatives foster a more holistic growth of arts and culture through artist residencies, commissioning, curating, education, professional development initiatives and community exchange. What has been the response to initiative from people, artists as well as tourists? The Art Week falls during peak tourist season in Rajasthan so we get a diverse audience of tourists from various nationalities and cultures. The idea was always that Jaipur Art Week would form part of the national arts calendar here in India with the timing close to the Jaipur Literature Festival and India Art Fair, so visitors could come to India and attend all three festivals during their trip. The main reason I established the Art Week was to support the next generation of contemporary arts practitioners working in Jaipur and Rajasthan, but also to give everyone in Jaipur the opportunity to see contemporary art, to get involved and learn more about it. The response to our previous editions has been incredible, but we are always looking to expand our reach at an international level as well. This year, we’re developing a new series of schools and family programs which also forms part of our Art Education initiatives. Are there any specific themes that are taken up in certain areas? For the third edition of Jaipur Art Week, we’ve focused on Jaipur as a city which was originally founded as a commercial center for the arts. In 1883, the Jaipur Exhibition made a significant change in how the world perceived India. For the first time, it celebrated Rajasthan’s culture on its own terms, exhibiting the work of artists from the Jaipur school through a national lens and elevating their practice to international fame. Established as a center for trade, Jaipur has always embraced an ethos of cultural modernity and openness, however, the Jaipur Exhibition defined the city as a progressive model and not just an urban center. The third edition of Jaipur Art Week embraces this heritage. Can you give us a view of the art landscape in India? How has it been evolving? Over the last decade, we’ve started to see world-class exhibitions coming to India, but always in Delhi, Mumbai, Kolkata or Bangalore, making them accessible only to people who have the means to travel, or who live locally to the venues. This is something I wanted to change through Jaipur Art Week. Through PATI’s various initiatives, we are supporting emerging artists from Rajasthan which de-centralises the current concentrated Indian arts narrative, but also by elevating the practice of non-artists and placing their work at the center, we are giving opportunities to those who don’t currently get the exposure their practice warrants. Just because someone has not had a formal arts education, it does not mean their work cannot be part of the contemporary arts narrative. For me, this is a key part of PATI’s work to support the evolution of India’s art landscape. As a female-led organization, PATI’s work also focuses on empowering women in the arts across India and South Asia as the region is still very heavily male driven.

‘Jaipur Art Week a unique incubator of the Indian contemporary art’

Non-residents undertaking <keyword id="96567" type="COUNTRY" weightage="20" keywordseo="Transactions">transactions</keyword> with Indian parties will trigger taxability under the domestic law in India even if they do not have physical presence in the country and operate digitised businesses. The <keyword id="121964" type="COMPANY" weightage="20" keywordseo="Central-Board-of-Direct-Taxes">Central Board of Direct Taxes</keyword> has notified new rules for operation of business by non-residents under which any transaction over ₹2 crore (apex $27,100) in respect of any goods, services or property carried out by them with any person in India including provision of download of data or software in India, will attract tax in India. The provisions of <keyword id="6704918" type="COMPANY" weightage="20" keywordseo="Significant-Economic-Presence">Significant Economic Presence</keyword> (SEP) that becomes the base for taxability of non-residents in India will also apply if the number of users with whom systematic and <keyword id="11211538" type="UNKNOWN" weightage="20" keywordseo="continuous-business-activities">continuous business activities</keyword> are solicited (or who are engaged in interactions) exceeds 3 lakhs. The provisions of Significant Economic Presence (SEP) were introduced in the legislation in 2018 with an intent to tax non-residents operating digitised businesses which function without a physical presence. It meant that SEP of a non-resident in India shall constitute a 'business connection' in India. These provisions were further amended vide Finance Act, 2020 which defined SEP as transaction in respect of any goods, services or property carried out by a non-resident with any person in India including provision of download of data or software in India, if the aggregate of payments arising from such transaction or transactions during the year exceeds a threshold or systematic and continuous soliciting of business activities or engaging in interaction with a defined number of users in India. The new provisions are applicable with effect from Financial Year 2021-22. It had become fully functional now with <keyword id="128665" type="COMPANY" weightage="20" keywordseo="CBDT">CBDT</keyword> notifying the thresholds for triggering SEP and consequently tax liability in India. According to PwC, the Central government has now made it clear that economic presence in India by non-residents is not limited only to the physical presence in India but also includes a virtual establishment. But non-residents could offset the taxability under these provisions by exploring taking relief under Double Taxation Avoidance Agreements. SEE ALSO: <a href="https://www.businessinsider.in/india/news/iit-delhi-graduates-started-an-online-fundraiser-for-oxygen-concentrators-in-madhya-pradesh/articleshow/82424505.cms">These IIT graduates started an online fundraiser for oxygen concentrators in a small district in Madhya Pradesh – they raised more than ₹47 lakhs in three days</a> <a href="https://www.businessinsider.in/stock-market/news/wazirx-users-dogecoin-cryptocurrency-report-failed-transactions-and-delays-in-orders/articleshow/82425709.cms">Dogecoin surge sends WazirX servers panting for help – users report failed transactions, delays in orders</a> <a href="https://www.businessinsider.in/india/news/india-supreme-court-quashes-election-commissions-plea-against-madras-high-court/articleshow/82427416.cms">‘Internet has revolutionised courtroom reporting’ – India’s Supreme Court quashes Election Commission’s plea against Madras High Court</a>

Non-residents will have to pay tax in India if transactions exceed ₹2 crore

<ul><li>Gated communities are a hot favourite amongst not only NRIs but affluent Indian residents as well.</li><li>Chennai, <keyword id="6354552" type="General" weightage="40" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>, and Mumbai are seeing the maximum <keyword id="11904949" type="General" weightage="100" keywordseo="nri" source="Orion">NRI</keyword> demand. NRIs are also showing notable interest in senior living real estate projects</li></ul> The non-resident Indians, better known as NRIs, might be having a Swades moment. No, they are not returning to their homeland but have been noticed as buying property in the country with gusto. In an interview to Business Insider, Saurabh Garg, Co-founder and Chief Business Officer at NoBroker said, “We have witnessed a 35% growth year-on-year in the investment of NRIs in Indian residential real estate. This burgeoning trend is especially evident in their preference for gated communities, which offer a host of amenities.” Gated communities are a hot favourite amongst not only NRIs but the affluent Indian residents as well. Just a month back, a Hyderabad-based construction firm launched a Rs 3,000 crore <keyword id="1775779" type="General" weightage="30" keywordseo="gated-community" source="Orion">gated community</keyword> project claiming that it is the biggest in the city which has steadily seen a rise in rentals in the past few years. Adds Garg, “These communities provide not only enhanced security but a host of modern lifestyle resources, all of which contribute to an elevated lifestyle and high returns on investment (ROI) should they decide to rent out or sell later.” The logic behind the rise in <keyword id="541044" type="General" weightage="80" keywordseo="nri-investment" source="Orion">NRI investment</keyword> The increased investment in Indian real estate by NRIs can be attributed to the ease of investment, owing to technological changes, especially as things are now online. The increased demand from NRIs is especially from the gulf countries, followed by Singapore, the United States, and Australia, says the NoBroker research. Chennai, Hyderabad, and Mumbai have seen maximum demand, but no surprises there. Parallel to this trend, NRIs are also showing notable interest in senior living real estate projects for their parents or grandparents. These properties usually have healthcare facilities or partnerships with nearby healthcare providers. Thus, their elders can have easy access to medical assistance within the comfort of their homes. “A substantial 65% (of the interested NRIs) are opting to purchase properties for personal use, either for themselves or their parents,” Garg adds. Other interesting trends The NoBroker half-yearly report points to some changing patterns in the Indian real estate market, especially when renting is concerned. 3BHK units in greater demand: Potential buyers from Bangalore, Chennai and Delhi-NCR prefer 3BHK units over the earlier favourite 2BHKs. The primary reason behind this is the hybrid work culture as there is a need for a larger space to work as well as live. Further Investments: For the first time in many years, property owners are getting the “asking price” for their properties. The report says that 40% of landlords are considering investing in a new property. Quick renting turnaround: On average gated society properties get rented out 30% faster than non-gated society properties, says the report. 52% of the surveyed in Delhi mentioned that their properties got rented out within a fortnight. This was 46% in Mumbai.

Indian real estate sees 35% rise in demand from NRI customers

<ul><li>Cancerians, like <keyword id="111343" type="General" weightage="80" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>, contributed 8.5% to the cumulative wealth, saw a 26.4% erosion.</li><li>Aries comes fourth, courtesy <keyword id="3820" type="General" weightage="80" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> who saw a 2% uptick in his wealth to top of the list.</li><li>Virgos, led by the likes of <keyword id="10020505" type="General" weightage="80" keywordseo="shapoor-pallonji-mistry" source="Orion">Shapoor Pallonji Mistry</keyword> and Anil Agarwal contributed 9.6% to the list.</li></ul> The stars have to align for entrepreneurs to become billionaires, they say. While not everyone believes in it, 360 ONE Wealth Hurun India Rich List 2023 report gives a detailed list of the star signs of India’s most successful billionaires. As of 2023, those with the <keyword id="123559" type="General" weightage="100" keywordseo="pisces" source="Orion">Pisces</keyword> sign had a great year, followed by Taurus and Libra. Things were not that smooth for the Cancerians who saw 26% of their wealth eroded. While there was a cumulative wealth increase of almost 35% for the Pisces, Taurus saw an uptick of 26.6%. Librans were just behind with 25.2% growth in wealth. Virgos, Aquarians, Capricorns, Leos and Gemini’s saw a double digit growth in wealth in the last one year. Aries, and Scorpios saw single digit rises. For Sagittarians, there was barely any change. The top contributors to the list A closer look at the star signs of India’s richest shows that, overall, Virgos and Scorpios led the way in total contribution, with the highest number of entries followed by Pisces. Virgo, the star sign was led by the likes of Shapoor Pallonji Mistry, Anil Agarwal, Gopikishan Damani and contributed 9.6% to the Hurun Rich list. Shapoor Pallonji Mistry has total wealth of ₹70,800 crore and is fifth on the list of Richest Non-Resident Indians. Anil Agarwal of Vedanta Group has ₹66,900 cr with his family after seeing a 14% uptick. While Cancerians cumulatively saw an erosion, the likes of Gautam Adani, who has come second overall despite a tough year, contributed 8.5% to the rich list. The Aries in this list were propelled to the fourth spot, courtesy Mukesh Ambani who saw a 2% uptick in his wealth to top the individual list. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Zodiac sign </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total contribution to the list (%) </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Richest Individuals </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Virgo </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.60% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shapoor Pallonji Mistry, Anil Agarwal, Gopikishan Damani </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Scorpio </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.10% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Yusuff Ali MA, Sunil Mittal, Arvind Kumar Poddar </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pisces </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.00% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gopichand Hinduja, Radhakishan Damani, Uday Kotak </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aries </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.90% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani, Sudhir Mehta, Adi Godrej, S Gopalakrishnan </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gemini </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.90% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">LN Mittal, Kumar Mangalam Birla, Rahul Bhatia </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Leo </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.80% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sri Prakash Lohia, Acharya Balkrishna, Rakesh Gangwal </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Cancer </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.50% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gautam Adani, Shiv Nadar, Benu Gopal Bangur </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Capricorn </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.10% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Karsanbhai Patel, Vijay Chauhan, Radha Vembu </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aquarius </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.60% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nusli Wadia, Vikram Lal, Jamshyd Godrej </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Taurus </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.50% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Cyrus S Poonawalla, Rajiv Singh, Harsh Mariwala </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">11 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sagittarius </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.20% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ravi Jaipuria, Sajjan Jindal, Mangal Prabhat Lodha </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">12 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Libra </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.70% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dilip Shanghvi, Chandru Raheja, P Pitchi Reddy </td></tr></tbody></table>Source: 360 ONE Wealth Hurun India Rich List 2023

Star power: Indian billionaires with Pisces zodiac sign had a good run last year

<ul><li>Yesterday, the <keyword id="6355187" type="UNKNOWN" weightage="20" keywordseo="lok-sabha">Lok Sabha</keyword> passed a bill that allows Non-Resident Indians (NRIs) to cast their vote through an Indian resident. </li><li>The bill amends the Representation of People Act, which only allows government officials abroad or members of the army to submit their votes through a proxy. </li><li>As of December 2016, there were 13 million NRIs around the world, according to the Ministry of External Affairs. </li></ul> Till now, if you were a Indian citizen living abroad and you wished to vote in an Indian election, you would have to physically travel back to your constituency in India and cast your vote. However, that looks set to change. Yesterday, the lower house of India’s Parliament passed a bill that affords Non-Resident Indians (NRIs) the privilege of submitting their votes through “proxies”, or a person living in India. The bill amends the Representation of People Act, which only allows government officials abroad or members of the army to submit their votes through a proxy. The move has been in the works for a while. A proposal to allow NRIs to cast their votes electronically was mooted by the Election Commission in 2015, however after the central government accepted the proposal the following year, there hadn’t been any real movement on the issue. Additionally, a proposal to allow NRIs to vote through postal ballots was shot down over concerns that it would too difficult to implement. The issue of <keyword id="6357804" type="UNKNOWN" weightage="20" keywordseo="NRI">NRI</keyword> <keyword id="43546" type="EVENT" weightage="20" keywordseo="Voting">voting</keyword> was given a new lease of life <a href="https://indianexpress.com/article/india/government-clears-proxy-vote-move-for-nris-4779759/">in August 2017</a>, when the Cabinet cleared a proposal to allow proxy voting, thereby preparing the policy for discussion in the Parliament. At the time, the proposal included a provision that made it mandatory for NRIs to nominate a new person every time they vote in an election, unlike service personnel who are allowed to nominate a permanent proxy. A number of concerns NRIs are an important vote bank. As of December 2016, there were 13 million NRIs around the world, according to the Ministry of External Affairs. They have consistently complained about their inability to vote in <keyword id="6355644" type="DEFINITION" weightage="20" keywordseo="elections">elections</keyword> and the bill addresses their complaints. However, the bill also raises a number of important issues. Firstly, the party that is currently in power, the <keyword id="14666" type="ORGANIZATION" weightage="20" keywordseo="BJP">BJP</keyword>, enjoys a huge following among the NRI community, and this bill could be an important ploy to win them over ahead of national elections next year. Secondly, the proxy voting process is vulnerable to misuse. There don’t seem to be any sufficient checks and balances in place to ensure proxies vote for the NRI’s choice of candidate. Lastly, and this issue is largely unsolvable, only parties with sufficient financial resources will be able to roll out significant promotional campaigns abroad, which tilts the balance of power against smaller, regional parties. There is no adequate mechanism to track how much is spent by these parties outside India. All things considered, however, the move is a step in the right direction. A number of NRIs, especially manual workers, are unable to travel back home for elections. The bill allows them to have a say in India’s democracy. The amended act will now be sent to the upper house of Parliament. After it is approved by the Rajya Sabha, it will be codified into law.

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